A Quote by George Gilder
The rates of taxation climb and the levels of capital decline, until the only remaining wealth beyond the reach of the regime is the very protein of human flesh, and that too is finally taxed, bound, and gagged, and brought to the colossal temple of the state - a final sacrifice of carnal revenue to feed the declining elite.
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The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business and invest it in tax-exempt securities or to find other lawful methods of avoiding the realization of taxable income. The result is that the sources of taxation are drying up; wealth is failing to carry its share of the tax burden; and capital is being diverted into channels which yield neither revenue to the Government nor profit to the people.
After Independence, there were periods of very high taxation. So you didn't create wealth, how will you distribute it? When was the first time capital gains tax was introduced? It was 1992 March. Till then, everything was taxed one way.
The philosophy underlying the system of progressive taxation is that the income and wealth of the well-to-do classes can be freely tapped. What the advocates of these tax rates fail to realize is that the greater part of the incomes taxed away would not have been consumed but saved and invested.
Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.
He (Mohammed) seduced the people by promises of carnal pleasure to which the concupiscence of the flesh urges us. His teaching also contained precepts that were in conformity with his promises, and he gave free rein to carnal pleasure. In all this, as is not unexpected; he was obeyed by carnal men. As for proofs of the truth of his doctrine, he brought forward only such as could be grasped by the natural ability of anyone with a very modest wisdom. Indeed, the truths that he taught he mingled with many fables and with doctrines of the greatest falsity.
So the stock market could have a negative wealth effect and weigh on capital spending, but a sharp decline in long-term interest rates would be an important counterweight.
Various justifications for lower capital-gains rates have been proffered over the years, none of them self-evident. But even conceding the wisdom of lower capital-gains rates, why should they never be taxed at all, even as they are passed from generation to generation?
The biggest revenue target is the preferential rate for long-term capital gains, which raises a perennial question: Why should capital income be taxed at a much lower rate than ordinary income? Capital assets are owned overwhelmingly by the rich.
A cherry pie is . . . ephemeral. From the moment it emerges from the oven it begins a steep decline: from too hot to edible to cold to stale to mouldy, and finally to a post-pie state where only history can tell you that it was once considered food. The pie is a parable of human life.
Most politicians are ever eager to regulate industrial and commercial activity and strike at the economic elite with confiscatory taxation. Unfortunately, regulation and taxation tend to hamper economic activity, inhibit productivity, and depress levels of living.
Companies and capital operate internationally, often beyond the economic reach of any particular nation-state. People are pretty global, too, living lives that freely cross national borders.
Conventional sports have undergone an evolution in training methods during the last fifty years. Curiosity and the inherent improvement brought about by competition have driven this evolution to a state of high refinement such that today's athletes have a very specialized approach to training at the elite levels.
My work on human capital began with an effort to calculate both private and social rates of return to men, women, blacks, and other groups from investments in different levels of education.
A lot of people out there working hard and finally building up to getting a pretty good income. Higher tax rates on them, you know, the income rates going up, the dividend rates are going up, the capital gains rates all going up before health care kicks in.
Flesh isn't the only source of protein. You can get all the protein you need from a varied plant-based diet. Protein is found in greens, veggies, beans, grains, nuts & seeds, avocados and so on. And there is no need to consume these foods in any special combination.
When you take a look at how the IRS treats foreign currency, bitcoin doesn't have the same taxation regime. Foreign currency gains and losses generally are taxed as ordinary income.
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